70,000 Shares in DuPont de Nemours, Inc. (NYSE:DD) Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC bought a new stake in DuPont de Nemours, Inc. (NYSE:DD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 70,000 shares of the basic materials company’s stock, valued at approximately $5,634,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SageView Advisory Group LLC purchased a new stake in DuPont de Nemours during the fourth quarter worth approximately $352,000. Johnson Financial Group Inc. lifted its holdings in shares of DuPont de Nemours by 47.7% during the 4th quarter. Johnson Financial Group Inc. now owns 796 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 257 shares in the last quarter. Heritage Wealth Advisors boosted its position in DuPont de Nemours by 87.8% during the 4th quarter. Heritage Wealth Advisors now owns 742 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 347 shares during the period. Mitchell Sinkler & Starr PA acquired a new stake in DuPont de Nemours in the 4th quarter valued at $234,000. Finally, TD Asset Management Inc raised its position in DuPont de Nemours by 16.4% in the fourth quarter. TD Asset Management Inc now owns 186,804 shares of the basic materials company’s stock valued at $14,371,000 after purchasing an additional 26,343 shares during the period. Hedge funds and other institutional investors own 73.96% of the company’s stock.

DuPont de Nemours Stock Performance

Shares of DuPont de Nemours stock opened at $87.14 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.44 and a current ratio of 2.21. The firm has a market cap of $36.39 billion, a PE ratio of 106.26, a price-to-earnings-growth ratio of 2.23 and a beta of 1.33. DuPont de Nemours, Inc. has a 1 year low of $61.14 and a 1 year high of $87.28. The firm’s 50-day simple moving average is $80.90 and its 200-day simple moving average is $78.86.

DuPont de Nemours (NYSE:DD) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.85 by $0.12. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.05 billion. DuPont de Nemours had a return on equity of 6.31% and a net margin of 5.30%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. Equities analysts forecast that DuPont de Nemours, Inc. will post 3.74 earnings per share for the current fiscal year.

DuPont de Nemours Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $0.38 per share. The ex-dividend date was Friday, August 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.74%. DuPont de Nemours’s dividend payout ratio (DPR) is 185.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DD shares. Royal Bank of Canada upped their target price on DuPont de Nemours from $87.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays upped their price target on DuPont de Nemours from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. UBS Group lifted their price objective on shares of DuPont de Nemours from $93.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Citigroup decreased their target price on shares of DuPont de Nemours from $95.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of DuPont de Nemours from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

About DuPont de Nemours

DuPont de Nemours, Inc provides technology-based materials and solutions in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through Electronics & Industrial, Water & Protection, and Corporate & Other segments. The Electronics & Industrial segment supplies materials and solutions for the fabrication of semiconductors and integrated circuits.